Everything You Need to Know About Wealth Distribution

It's pretty astonishing, when you think about it. When asked, people in the top 10% of the wealth distribution mostly think they're in the "upper middle class." Those are the folks whose wealth equals 35% of all the wealth in the country. Only those in the top 1% think of themselves as wealthy. And they do own a lot: nearly 42% of all the wealth in the country.

Notice, too, that the share of the country's wealth owned by the tippy top .01% -- that's one person in 10,000 by the way -- began to grow rapidly while the wealth of the bottom 90% started its steep decline in the 1980s, under President Reagan and his "trickle down" economic policies. Wealth, it seems, doesn't trickle down. It defies gravity and flows up!

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